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Information Resources Management Association
Advancing the Concepts & Practices of Information Resources Management in Modern Organizations

Succession in Family Business Through Authentic Leadership

Succession in Family Business Through Authentic Leadership
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Author(s): Elif Baykal (İstanbul Medipol University, Turkey)
Copyright: 2022
Pages: 16
Source title: Research Anthology on Strategies for Maintaining Successful Family Firms
Source Author(s)/Editor(s): Information Resources Management Association (USA)
DOI: 10.4018/978-1-6684-3550-2.ch021


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Family businesses are the kind of organizations that are characterized by overlapping systems of ownership, management, governance, and family values. In family firms, the family is the main asset of the business, and family members are strictly bound to the firm. Due to the dominance of a specific family, the success of the company is closely linked to the proper administration of the duality in the industry, the existence of family and business simultaneously. This fact distinguishes family firms from other companies. Furthermore, managerial and ownership priorities of the owner family are maintained through intergenerational succession. And, the existence of multiple stakeholders and their conflicting demands necessitate a transparent and authentic leadership approach in this delicate process. In this chapter, it is proposed that in family firms, intergenerational succession is more convenient and less painful, in case an authentic leader who gives importance to high levels of awareness, transparency, and morality is in power.

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